Timeshare Refi - Any luck, good companies to deal with?

Seems like the TS refi industry is full of scams, anyone here have any good experiences to share? any major banks that are willing to do this?

Never heard of them. Why would any entity re-fi timeshares bought from a developer when the overwhelming majority aren't worth near what they were purchased for .... doesn't make sense.

rayc157 wrote:

Seems like the TS refi industry is full of scams

It's not just refinance. The whole timeshare industry is full of scams.

If your concern right now is refinancing a developer purchase for a lower interest rate, one option would be to try a Home Equity Line of Credit.

I am wondering the same thing. I believe we have some equity in our timeshare and want to see if we can refinance it to get a lower interest rate. I do NOT want to link it to my home (home equity line of credit) because I would never want to lose my home over our vacation purchase. Any tips or anyone know of companies that offer this? ANYONE? :)

sylviao17 wrote:

I am wondering the same thing. I believe we have some equity in our timeshare and want to see if we can refinance it to get a lower interest rate. I do NOT want to link it to my home (home equity line of credit) because I would never want to lose my home over our vacation purchase. Any tips or anyone know of companies that offer this? ANYONE? :)

I would check the resale value of your timeshare before assuming that you have any equity in it. Most timeshares are worth about zero dollars on the resale market. And you would be very hard-pressed to find any lender who will lend money with a timeshare as collateral.

Your best bet, if a Home Equity Line of Credit (HELOC) is not an option, is to find a low-interest loan from a bank but not mention that it's for a timeshare.

To me, the fact that you're worried that a HELOC will cause you to lose your home shows that you are in way over your head on this timeshare purchase.

Considering your situation, I would also caution you at this point to watch out for scam operations who prey on people like you telling you they can get you out of your mortgage/timeshare/maintenance fees, etc., if you pay them some upfront fee.